The privately-held entity responsible for operating and maintaining a 41-mile stretch of State Highway 130 tollway from southern Travis County toward San Antonio has emerged from Chapter 11 bankruptcy protection, the Austin Business Journal reported today. SH 130 Concession Co., which had struggled with considerably less traffic than was initially anticipated after it opened, has secure more stable footing with new ownership and senior management, as well as an infusion of $260 million in new financing. The new ownership group, led by funds managed by Strategic Value Partners LLC, an international investment firm, has engaged Louis Berger Services to operate and maintain the roadway. Andy Bailey, a veteran transportation industry leader, has been named CEO of the company.
